Sao Paulo was living through the best week of the year for its tourism sector: the Brazilian Formula 1 Grand Prix Sunday was set to draw 90,000 visitors, who were expected to spend about 150 million dollars in the city. According to the municipal company Sao Paulo Turismo, the global financial crisis hardly affected the economic impact of the race, and income derived from the event was estimated to rise by 13 per cent in relation to last year.

“This is the main tourist event in Sao Paulo. It generates more than 15,000 jobs, it moves several sectors, it boosts the economy and tax collection,” said Caio Luis de Carvalho, the head of Sao Paulo Turismo.

Hotel managers shared his optimism and expected to attain a 100- per-cent occupancy rate, as in earlier editions of the Grand Prix at the Interlagos circuit in Sao Paulo.